Simulation: Principles, Practice, and Examples

Herfried Kohl

Chapter 15 in Managing SMEs in Times of Rapid Change, Uncertainty, and Disruption, 2024, pp 335-384 from Springer

Abstract: Key Topics in This Chapter: Mainly Quantitative At various points in the book, we have seen that in QRM there is no way around the simulation of risks and other stochastic quantities. In this section, we will start by discussing the generation of random variables that satisfy specified distributions. Various methods are presented for this purpose. Indications are given as to what should be considered when setting up simulation models. Most of this chapter is devoted to the practical implementation of simulations. The examples cover a wide spectrum. All calculations are described in detail so that they can be easily understood, modified, and implemented by the reader.

Date: 2024
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DOI: 10.1007/978-3-031-71272-2_15

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